Key Drivers Radically Transforming Business Continuity Management

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Reduce time and tolerances for outages and recovery from days and hours to minutes and seconds by embedding digital in key processes.

According to the Centre for Research on the Epidemiology of Disasters (CRED), 357 natural-triggered disasters were registered in 2012 alone. Fortunately, this was less than the average annual disaster frequency observed from 2002 to 2011. Yet, 9,655 people were killed, and 124.5 million people were victims. Economic damages increased to above average levels at an estimated $157 billion. While the most immediate impact of a disaster is on human life and loss of human potential, there are secondary and tertiary consequences too, many of which can be felt for years. Since the 2010 Haiti earthquake, roughly 350,000 displaced Haitians live in tent camps; a cholera epidemic continues to rage across the country; and the unemployment rate has topped 70 percent.

Ingenious. Innovative. Intuitive. Complex. These are a few of the words one might use to describe today's technology landscape. No doubt the last decade – and the last year - has ushered in some of the most advanced and awe-inducing technological feats – from apps, to robots, to delivery drones. Visionary men and women around the globe are leading us bravely into an entirely new technologically advanced world. But as the multitude of devices, advanced systems, and enterprise networks grow in size, scope, and complexity, the potential impact of natural and man-made disasters on individuals and organizations also grows exponentially. Effective disaster recovery planning is increasingly leveraging advanced technologies in a way that supports, strengthens, and streamlines the various processes, policies, and procedures needed to maintain business critical functions following a disruptive event.

In early November 2013, Typhoon Haiyan made landfall, ripping through the Philippines, killing thousands of people, displacing hundreds of thousands of others, and causing billions of dollars in damage. Over the last decade, natural disasters – from Hurricane Katrina, the Japan tsunami and earthquake, the Haiti earthquake – have all occurred with alarming frequency and increasing impact. Typhoon Haiyan is no longer considered the exception. It is not an anomaly, and we can expect to see more disasters of this size, scale, and magnitude in the future.

Overcoming the challenges of today while preparing for tomorrow requires that organizations focus their efforts and resources on three critical areas that will transform business continuity management (BCM) in 2014; gaining a 360-degree view of the interconnected and hyper-extended enterprise and supply chain, reducing time and tolerances for outages, and establishing an integrated BCM, business resilience risk management, security, incident management, and crisis management program.

In this slideshow, Yo Delmar, vice president, GRC Solutions, MetricStream, takes a closer look at the factors that are transforming business continuity management.


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